The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil companies Continue Reading
Washington DC — The International Monetary Fund (IMF), yesterday in Washington DC, United States, declared that Nigeria’s Excess Crude Account (ECA) was not achieving the goals for which it was Continue Reading
No fewer than 800 companies have bid for management of 176 gas flare sites in the country, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. Mr K.achikwu Continue Reading
The International Monetary Fund (IMF) has advised Nigeria and other countries still subsidising fuel for domestic consumption to stop doing so. The IMF said fuel subsidy removal would help boost Continue Reading
The Federal Government, Thursday, disclosed that it is working on a legislation, through the Department of Petroleum Resources, DPR, to compel petroleum products marketers to set up gas filling plants Continue Reading
More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages Continue Reading
The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe. But steady Continue Reading
Africa’s richest man and President of Dangote Group, Alhaji Aliko Dangote, has said his refinery, one of the world largest, when completed, will transform Nigeria’s economy. He stated this at Continue Reading
Nigeria’s Petroleum Minister Emmanuel Ibe Kachikwu has said that he isn’t aware of any plans of U.S. oil and gas supermajor ExxonMobil to exit upstream operations in OPEC’s African member. Continue Reading
A cargo of Nigeria’s distillate-rich Bonga crude is due to move to the United States (U.S.) from the May loading programme, traders have disclosed, after a near six-month hiatus. According Continue Reading
